Raza Haider
LA-Z-BOYAbout Raza S. Haider
Raza S. Haider, age 48, is an independent director of La‑Z‑Boy Incorporated since 2023. He is President, Premium Consumer Audio & Chief Supply Chain Officer at Bose Corporation (March 2025–present) and brings deep product, supply chain, and consumer technology experience from prior roles at Bose, Dell Technologies, and McKinsey & Company. He serves on La‑Z‑Boy’s Nominating & Governance Committee.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bose Corporation | President, Premium Consumer Audio & Chief Supply Chain Officer | Mar 2025–present | Product and supply chain leadership; operational resilience and efficiency oversight |
| Bose Corporation | Chief Product & Supply Chain Officer | 2023–Mar 2025 | Product-driven digital transformation, supply chain strategy |
| Bose Corporation | Chief Product Officer | 2022–2023 | Consumer-centric innovation and product leadership |
| Dell Technologies Inc. | SVP – Dell Consumer Products; prior senior roles | 2013–2022 (SVP 2018–2022) | Consumer hardware, product and operations leadership |
| McKinsey & Company, Inc. | Engagement Manager | 2006–2012 | Strategy and operations advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Bose Corporation | President, Premium Consumer Audio & Chief Supply Chain Officer | Mar 2025–present | Global audio leader; non‑public company |
Board Governance
- Independence: The Board determined all current directors other than the CEO are independent; this includes Mr. Haider.
- Committee assignments: Member, Nominating & Governance Committee (4 meetings in FY2025; committee composed entirely of independent directors). Chair: Janet E. Kerr; other members: Erika L. Alexander, Matthew H. Baer, Raza S. Haider.
- Attendance: Board met 5 times in FY2025; each director attended at least 75% of Board and applicable committee meetings; independent directors held executive sessions at every Board meeting.
- Years of service: Director since 2023 (standing for re‑election in 2025 slate).
- Board leadership: CEO Melinda Whittington became Chair in Dec 2024; Michael T. Lawton serves as independent Lead Director.
Fixed Compensation (Director, FY2025)
| Component | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 105,000 | Standard non‑employee director retainer |
| Committee chair fees | — | Not a chair in FY2025 |
| Lead Director/Chair premium | — | Not applicable |
| All other compensation | 3,081 | Dividend equivalents on RSUs accrued |
| Total cash and other | 108,081 | Sum of cash + other |
- Program changes FY2025: Board increased annual cash retainer to $105,000 (from $100,000) and annual equity grant value to $135,000 (from $120,000); Nominating & Governance Chair retainer increased to $15,000.
Performance Compensation (Director, FY2025)
| Equity Instrument | Grant Date | Units | Grant-Date Fair Value ($) | Vesting | Dividend Treatment |
|---|---|---|---|---|---|
| RSUs (annual grant) | 29-Aug-2024 | 3,372 | 135,015 | Vest and settle in shares on 1‑year anniversary of grant date | Dividend equivalents accrue; paid at vesting |
- Directors receive time‑based RSUs; no options or performance‑based equity disclosed for directors in FY2025.
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Mr. Haider; his bio and the skills matrix do not indicate other public company board service. |
| Potential interlocks/conflicts | None disclosed; Audit Committee reports no related‑person transactions requiring disclosure since beginning of FY2025. |
Expertise & Qualifications
- Leadership; Finance; Technology & Digital; Retail; Consumer Marketing; Global Perspective; Sourcing/Manufacturing; Human Capital Management; Risk Management. These skills align with La‑Z‑Boy’s strategy and Board needs.
Equity Ownership
| As of | Shares Owned Directly/Indirectly (#) | RSUs held by Non‑Employee Director (#) | Rights to Acquire within 60 Days (#) | Total Beneficial Ownership (#) | Notes |
|---|---|---|---|---|---|
| 27-Jun-2025 | 4,616 | 3,372 | — | 7,988 | No pledged shares; below 1% of outstanding (only CEO >1%). |
- Stock ownership guidelines: Non‑employee directors must hold company equity valued at 5x annual cash retainer; compliance required within five years beginning the first full calendar year after becoming subject to the guidelines. As of Apr 26, 2025, all non‑employee directors with ≥5 years of service met the guideline; newer directors are within the transition period.
Insider Trades (Forms 4 and Grants)
| Date | Type | Securities | Key Terms | Source |
|---|---|---|---|---|
| 29-Aug-2024 | RSU grant (annual director grant) | 3,372 RSUs | One‑year vest; dividend equivalents accrue | |
| 03-Sep-2024 (filed) | Form 4 filing for 8/29/24 grant | — | Confirms RSU grant under 2024 Omnibus Incentive Plan | https://lazboy.gcs-web.com/static-files/08078b80-c0a2-41b8-af67-74bcea9b0855 |
| 28-Aug-2025 (grant); 29-Aug-2025 (filed) | Form 4 filing | — | RSUs granted under 2024 Omnibus Incentive Plan | https://lazboy.gcs-web.com/static-files/357052d8-1555-401b-a51a-de3ac1aa0b8f |
Governance Policies and Risk Controls Relevant to Haider
- Hedging/pledging prohibited for directors; anti‑short‑term speculative trading policy in place.
- Overboarding policy: NEOs of public companies limited to one additional public board; other directors limited to three other public boards absent N&G approval. Mr. Haider is an operating executive at a private company and holds no other public company boards.
- No related‑party transactions requiring disclosure since beginning of FY2025.
Governance Assessment
- Strengths for investor confidence: Independent director with operating depth in product and supply chain; active on Nominating & Governance Committee; attendance threshold met; no related‑party transactions; equity compensation aligns with shareholder interests; prohibitions on hedging/pledging reduce alignment risk.
- Potential watch items: As a newer director (since 2023), his disclosed beneficial ownership (7,988 combined shares/RSUs) is modest relative to the 5x retainer guideline, though he is within the 5‑year compliance window for new directors. Monitor future annual equity grants and open‑market purchases for increasing alignment.
- No red flags identified: No overboarding, pledging, or option repricings; no disclosed conflicts; Compensation Committee and advisor are independent; all Board committees composed of independent directors.